EURUSD
As
we expected yesterday, the EURUSD broke the flag pattern on the hourly
timeframe and fell to the 1.0990 support level, where pair is likely to
continue its decline by retesting the broken pattern.
Resistance
Levels: 1.1055- 1.1095- 1.1175
Support
Levels: 1.0990 - 1.0940 - 1.0880
Direction:
Bearish
GBPUSD
GBPUSD
rallied strongly as a result of reaching the bottom of the triangle pattern on
the hourly charts. The price now faces a strong resistance level that might prompt
it to fall back to 1.2800 again, which is supported by RSI being in the 75 zone
that indicates overbought.
Resistance:
1.2965- 1.3050 -1.3150
Support:
1.2760 - 1.2660 - 1.2550
Direction:
Volatile
USDJPY
USDJPY
pair soared until it reached the resistance level at 109.50, waiting for the
correction to decline, especially with the RSI near the 75 level indicating
overbought.
Resistance:
109.00 - 109.50 - 110.00
Support:
108.30 - 107.90 - 107.30
Trend:
Bullish
Gold
Gold
is moving in a volatile direction on the hourly interval forming a triangle
pattern, so we must wait for the triangle to break, noting that the price is
moving in a bearish trend over the long term.
Resistance:
1475 - 1495 - 1515
Support:
1445 - 1430 - 1410
Direction:
Bearish
Oil
Oil
is facing strong resistance level at 58.75, which managed to push the price lower
yesterday. Shrewd traders should wait for the breakout of the aforesaid resistance
to buy or the fall to 56.20 to buy due to the presence of strong support.
Resistance:
58.75 - 62.50 - 65.00
Support:
56.20 - 53.75 - 51.45
Trend: Bullish